Pakistan balance of payments deficit reaches $4.39 billion in September

Pakistan's balance of payments swung to a deficit of $4.39 billion in September. This figure represents a sharp increase from the $118 million deficit recorded in August.

The current account deficit also expanded to $356 million in September, up from $73 million in the previous month. For the July-September period, the balance of payments deficit reached $3.12 billion, contrasting with a $274 million surplus during the same timeframe last year.

Goods trade deficits widened by 21.1% to $9.33 billion in the first quarter of fiscal year 2026-27. Imports of goods rose 14.3% to $17.78 billion between July and September, while exports of goods grew 7.7% to $8.45 billion in that same window.

September saw a monthly goods trade deficit of $3.16 billion, with imports climbing 22.7% to $6.17 billion and exports increasing 15.5% year-on-year to $3.02 billion. The first quarter current account deficit stood at $874 million, while services exports grew 22.8% to $2.72 billion.

Telecommunications, computer and information services contributed $1.25 billion to exports during July-September, while other business services reached $622 million and travel services hit $322 million. Services imports rose to $3.55 billion during the July-September period, resulting in a services trade deficit of $831 million.

Workers' remittances increased 14% to $10.88 billion in the first quarter, though monthly figures fell to $3.59 billion in September. The secondary income balance reached $11.61 billion during July-September, even as the primary income deficit widened slightly to $2.32 billion in the first quarter.

Primary income payments totaled $2.56 billion during the first quarter. Foreign direct investment inflows reached $720 million in the first quarter, but monthly inflows slowed to $219 million in September.

Portfolio investment saw a net inflow of approximately $2.93 billion during July-September, while the financial account recorded a net outflow of $4.16 billion in the first quarter. Gross foreign exchange reserves were valued at $22.88 billion in September.

The Pakistani rupee closed at 276.91 against the US dollar on Friday. Silver prices reached a record high of Rs6,256 per tola.